Comcast Corporation announced plans to separate its businesses into two independent publicly traded companies. NBCUniversal and Sky would be spun off from Comcast in a tax-free transaction, leaving Comcast shareholders with shares in both companies.
Mike Cavanagh will become CEO of NBCUniversal. Comcast will be led by former Chief Financial Officer Michael Angelakis, who will serve as a strategic advisor during the interim. Brian L. Roberts will remain actively involved in the leadership of both companies and work with their CEOs.
Comcast will focus on connectivity and technology, including broadband, wireless and entertainment platforms. NBCUniversal will bring together Universal film and television studios, NBC and Telemundo networks, Peacock and Bravo, its theme parks division, and Sky, its European media business.
